Changes to VA Funding Fees
The Rate for the VA funding fee has changed in some circumstances. If you have a VA guranteed loan and plan to refinance with cash out, or plan to sell your existing VA guaranteed home and purchase a new home after October 1st, the information you need to know is listed below.
Loans closed October 1 through October 5, 2011: Funding fees for loans closed on
these dates will be those cited in the Department of Veterans Affairs (VA) Circular 26-
11-12, dated September 8, 2011. (See chart below)
Loans closed October 6 through and including November 17, 2011: Funding fees
for loans closed during this period, will be the same rates in effect prior to October 1, 2011. The fees can be found in the VA Lender’s Handbook, Chapter 8, Topic 8.
Loans closed on or after November 18, 2011: Funding fees for loans closed on or
after November 18, 2011 will be reduced as shown on the attached Exhibit A. (See chart below**)
For more information, see your lender or call us today!
**Changes are in blue